As you know ES trades over night, so while SPY system is closed
ES is active. On my ES system which is like the SPY systems I have
2 systems potentially triggering. One of them is very high
probability, doesn't occur that often but with a profit factor of
1500, basically you just question it, you just do the trade. Point
is, probably getting close to a bounce. the systems wouldn't go
long until tomorrow so would rather have prices go lower
anyway.
anyway maybe one of the SPY sub systems will go long
tomorrow
Matt - That gaps post was $$$... I did not even see that gap
close but took profits none the less as that was my target. I
agree that a bounce is in order. If we drop further in am,
I'll double down on longs but ONLY for a trade as you know China
will retaliate soon... i'm hoping this trading roller coaster keeps
paying big bucks, no wammies ! Steve no one has to ride the
SWINGS if they don't wanna since news can TRUMP any trump ;)
Sometimes when the geo/political plays align with the technicals,
massive moves happens. Gold and metals are over bought so I'm
short short term and long long term (GLD, DIS and SHOP are where
I'll be backing up the truck as we come down). Good news
letter, you make me feel like Nostradamus...probably means it's
time to move the 401k to cash and on any bounce tomorrow or Monday,
that's exactly what I'm going to do. You guys ROCK !
profit factor is simply the total gross profit divided by the
total gross loss. Since the gross profit of that sub system is
37,650 and the gross total loss is only 25, divide the two and you
get 1500, or another way to think of it, for every dollar lost it
made 1500. It's not currently long, simply conditions are currently
being met at current prices, if conditions are still met by
tomorrows closing bar then it would go long. Considering how
volatile the market has been who knows where ES will be by
tomorrow's 5 pm closing time. Remember Friday's ES bar actually
opens at 6 pm on Thursday. ES daily bars are not like
the cash market guys: Monday's ES bar starts trading at 6 pm on
Sunday night, that bar closes at 5 pm on Monday. Then Tuesday's bar
starts trading at 6 pm on Monday and closes on Tuesday at 5 pm.
etc. ES closes every day at 5 pm and the next days bar
reopens 1hr later at 6 pm, it trades 23 hrs a day except Friday and
Saturday night.
The other system that is looking to go long is the Trend
system.
Also one of the QE Momo systems went long on ES today at the ES
close at 5 pm, however I have several versions of that sub system
which I have not decided on, the other versions did not. the SPY
versions of that system did not go long.
ES system
Posted by matt on 1st of Aug 2019 at 09:35 pm
As you know ES trades over night, so while SPY system is closed ES is active. On my ES system which is like the SPY systems I have 2 systems potentially triggering. One of them is very high probability, doesn't occur that often but with a profit factor of 1500, basically you just question it, you just do the trade. Point is, probably getting close to a bounce. the systems wouldn't go long until tomorrow so would rather have prices go lower anyway.
anyway maybe one of the SPY sub systems will go long tomorrow
Matt - That gaps post
Posted by deep on 1st of Aug 2019 at 11:56 pm
Matt - That gaps post was $$$... I did not even see that gap close but took profits none the less as that was my target. I agree that a bounce is in order. If we drop further in am, I'll double down on longs but ONLY for a trade as you know China will retaliate soon... i'm hoping this trading roller coaster keeps paying big bucks, no wammies ! Steve no one has to ride the SWINGS if they don't wanna since news can TRUMP any trump ;) Sometimes when the geo/political plays align with the technicals, massive moves happens. Gold and metals are over bought so I'm short short term and long long term (GLD, DIS and SHOP are where I'll be backing up the truck as we come down). Good news letter, you make me feel like Nostradamus...probably means it's time to move the 401k to cash and on any bounce tomorrow or Monday, that's exactly what I'm going to do. You guys ROCK !
What does a profit factor
Posted by victorh on 1st of Aug 2019 at 11:11 pm
What does a profit factor of 1500 mean and is or has that ES system gone long tonight? Thanks
profit factor is simply the
Posted by matt on 2nd of Aug 2019 at 12:00 am
profit factor is simply the total gross profit divided by the total gross loss. Since the gross profit of that sub system is 37,650 and the gross total loss is only 25, divide the two and you get 1500, or another way to think of it, for every dollar lost it made 1500. It's not currently long, simply conditions are currently being met at current prices, if conditions are still met by tomorrows closing bar then it would go long. Considering how volatile the market has been who knows where ES will be by tomorrow's 5 pm closing time. Remember Friday's ES bar actually opens at 6 pm on Thursday. ES daily bars are not like the cash market guys: Monday's ES bar starts trading at 6 pm on Sunday night, that bar closes at 5 pm on Monday. Then Tuesday's bar starts trading at 6 pm on Monday and closes on Tuesday at 5 pm. etc. ES closes every day at 5 pm and the next days bar reopens 1hr later at 6 pm, it trades 23 hrs a day except Friday and Saturday night.
The other system that is looking to go long is the Trend system.
Also one of the QE Momo systems went long on ES today at the ES close at 5 pm, however I have several versions of that sub system which I have not decided on, the other versions did not. the SPY versions of that system did not go long.
Please confirm if this is
Posted by shecar on 1st of Aug 2019 at 11:21 pm
Please confirm if this is actually going long or not.